2.3.6.2. Municipal Engineer provide the Municipal Accountant and the
Supply Officer with a complete description and segregation of
road components for road projects;
2.3.6.3. Municipal Accountant fully disclose the total road network
system in the Notes to Financial Statements; and
2.3.6.4. Municipal Mayor direct the Municipal Engineer, Municipal
Accountant, and Supply Officer to strictly comply with the
accounting and reporting guidelines on the local roads asset
management system pursuant to COA Circular No. 2015-008
dated November 23, 2015.
Inventory Accounts
3. The existence, validity, and correctness of the Inventory accounts totaling
₱3,256,023.87 as of December 31, 2024, have not been established due to (a) non-
conduct of the year-end physical count and (b) non-maintenance of supplies ledger
cards and stock cards by the Offices of the Municipal Accountant and Municipal
Treasurer, respectively, which goes against the provisions set forth in the NGAS
Manual for LGUs, Volume 1, thereby, affecting the fairness of the presentation of
these accounts in the financial statements.
3.1. As of December 31, 2024, the financial statements showed an Inventory account
balance of ₱3,256,023.87, which consisted of the following:
Account Amount
Inventory Held for Distribution
Welfare Goods for Distribution ₱ 260,446.00
Agricultural and Marine Supplies for Distribution 1,065,794.00
Construction Materials for Distribution 58,275.00
Other Supplies and Materials for Distribution 1,783,815.12
Inventory Held for Consumption
Agricultural and Marine Supplies Inventory 20,116.00
Other Supplies and Materials Inventory 67,577.75
Total ₱ 3,256,023.87
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